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Bull Run Extended

AUD

AUD/USD extended its renewed winning streak to three consecutive days as risk sentiment picked up. There was little in the way of notable local developments.

  • The rate trades at $0.7511, barely changed on the day. Yesterday's cycle high of $0.7528 provides the initial bullish target, a break here would open up Oct 28 high of $0.7556. Bears look for a pullback under Mar 18 low of $0.7361.
  • Australia slapped further sanctions on Russian individuals as well as Belarus President Lukashenko and members of his family.
  • Next week, focus turns to Australian retail sales (Tuesday), job vacancies, building approvals and private sector credit (Thursday) as well as CoreLogic House Price Index & housing finance data (Friday).

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